Keep Hold of Those Pennies as London is Now the Most Expensive City in the World

By Gerald Lynch on at

Beating Oslo, Geneva, Paris and New York to the dubious title, the UK's capital is now the most expensive city in the world, according to a study by cost of living researchers at Expatistan.

Comparing more than 775,000 prices submitted by 201,500 users in over 1,600 cities across the globe, London beats even notoriously pricey Sydney.

So what are the key factors driving up the cost of living in the UK? According to Expatistan it's mostly the prices of petrol and rent, with London pumps double the price of those found in New York, and living spaces "on average" costing upwards of £2,000. While that last figure has to be taken with a pinch of salt (Expatistan's average is based on "85 square metres of furnished accommodation in an expensive area"), even life's little luxuries, like a coffee or a cinema ticket, are more expensive in London than elsewhere around the world. Inflation continues to outpace wage increases too, exacerbating the problem for Londoners.

Is it worth it? London dwelling Giz readers, chime in below. [Expatistan]